80% of Lots Sold Achieving over HK$12 Million
Surpassing Pre-sale Estimate
Hong Kong, 2 December 2010
One East Larasati, the overseas branch of the prestigious Southeast Asian auction house Larasati Auctioneers, held its fourth auction in Hong Kong on 27 November. In the auction that took place at the Hong Kong Exhibition Centre (China Resources Building), over 80% of its 40 lots were sold, achieving over HK$12 million, which surpassed its pre-sale estimate of HK$10 million.
Mr. Daniel Komala, Founder and CEO of Larasati Auctioneers, is satisfied with the result. He said, ‘Our second auction in Hong Kong was an amazing achievement for a newcomer. All of our highlighted lots, including the masterpieces of S. Sudjojono, Adrien-Jean Le Mayeur, Willem Hofker, Affandi, and Lee Man Fong, as well as works of many of the great emerging stars such as R.E. Hartanto and Jumaldi Alfi were sold. I’m confident about One East Larasati’s development in Hong Kong, and I will continue Lasarati’s belief to support Southeast Asian art, and the development of local artists there. ‘
Highlight from the sale, Ni Pollok Dancing by Belgian artist Adrien-Jean Le Mayeur fetched HK$3 million (est. HK$ 1.8 million - 2.8 million), which was the sale’s top performer based on price realized. Another highlight, Give Us This Day Our Daily Bread by Indonesian artist S. Sudjojono, was sold twice its high estimate at HK$1.38 million (est. HK$ 500,000 - 700,000). The auction house later announced that Chatting under the Shades of Tree by Dutch-born Indonesian artist Arie Smit was the best performer based on performance, which was sold at HK$384,000 (est. HK$100,000 – 180,000), marking 384% above its starting price.
About Larasati Auctioneers
With its brilliant insights and expansive presence, Larasati Auctioneers has long established itself as the explorer and forerunner in Southeast Asian art markets. Through the tumultuous global financial crisis in 2000, Larasati founder and CEO Daniel Komala saw the potential of art auction in Asia and founded Larasati Auctioneers in 2000. In the last decade Larasati’s reputation has successfully extended over the region, including the opening of its Singapore office in 2003. For his exceptional foresights, insights and genuine support for artists, Daniel Komala is recognized as an industry baron, admired by his colleagues and worldwide collectors. Hailed from a collector family in Indonesia, specializing in traditional Balinese fine art to start, Daniel Komala’s wisdom and network are unsurpassed in Southeast Asian art markets, where Larasati builds on its decade-long success as the region’s top auction house. In 2010, Larasati officially launched One East Larasati into overseas market.